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Research on The Influence of Government Subsidy Intensity on the Substantial Innovation output of Resource-Based Enterprises |
Cheng Qiongwen,Ding Hongyi |
(Business School, Central South University,Changsha 410083,China) |
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Abstract How to effectively stimulate the innovation output of enterprises by government subsidies is an important issue at present.Based on the perspective of subsidy intensity heterogeneity, taking China's resource-based listed companies' empirical data from 2012 to 2018 as observation objects, using threshold regression models and dynamic panel data models to empirically test the substantial innovation of government subsidy strengths for resource-based enterprises The effect of output, the research results show that the threshold effect of government subsidies on the substantial innovation output of resource-based enterprises is significant, and there is an optimal range of subsidy intensity, but analysis based on the heterogeneity of corporate political relations shows that the optimal range of subsidies There are obvious differences between state-owned enterprises, private enterprises with political connections and private enterprises without political connections.Further research found that government subsidies are mainly to promote enterprises to increase the intensity of R & D investment by enhancing their willingness and ability to innovate, and thus increase Substantial innovation output, but at present the innovation results of resource-based enterprises have not generally achieved economic value transformation.
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Received: 12 December 2019
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